Word: mcgraw
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Atomic-Powered. To keep up with the technical progress in industry, McGraw added such new magazines as Electronics and Product Engineering. For the businessman who is more manager than technician, he started Business Week in 1929. Two months after Business Week was launched, the stock market crashed, and in 1932 and 1933 the company showed the only losses in its history. But Business Week pulled out of the red before Founder McGraw retired in 1935. His son James ("Jay") McGraw, a Princeton graduate ('15) and a stiff-collared executive who had grown up in the company, took over...
With American industry, McGraw-Hill continued to expand, and sometimes a popular department in one magazine budded into a new magazine, e.g., when one of the departments in Chemical Engineering grew too big, it became Food Engineering. Under Jay McGraw, the company made its only attempt-with Science Illustrated-to step out of the trade into the general circulation field. It was a resounding flop. Between 1945-47, the new magazine lost upwards of $2,000,000. It was beginning to find itself, when Jay McGraw folded it to get ready for the postwar depression mistakenly predicted by his economists...
When he retired in 1950, two years after his father's death, his younger brother, Curtis Whittlesey McGraw (Princeton '20), stepped into the job. Still called "Hack" from football days (he captained Princeton's '19 team), burly (6 ft. 2½ in., 210 lbs.) President McGraw, 57, is as gregarious as his brother was reserved, delegates authority to his top aides, Publications Boss Paul Montgomery, Executive Vice President Willard Chevalier, and Editorial Director Smith, lets the magazines run their own shows...
...Hack McGraw subscribes to his father's theory that his "editors must be part of industry before they can be part of the publishing business," would rather hire an engineer and teach him to write than try to make an engineer out of a writer...
Always on the alert for new fields, McGraw-Hill registered the title Atomic Power right after the first atom bomb, now publishes it as Nucleonics, which is still losing money. But the company has had to wait before for a new trade to catch up with its magazine, and Hack McGraw isn't worried. Said he: "It's another stake in the future. We think it will carry itself well when private industry really gets going in atomic energy...